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tv   Countdown to the Closing Bell  FOX Business  November 9, 2012 3:00pm-4:00pm EST

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on so i don't shame myself in front of ashley and tracy who left me with a gain. if you rewind the clock this morning, we got preliminary consumer sentiments data, came in at five year high for the month of november. just as we're heading into the holiday season. great sign for retailers and everybody else. that sent stocks to session highs at one point, up more than 78 points but we lost those gains shortly after president obama addressed the nation for the first time in his second term. while he held up a pen during that speech and said he's ready to sign a deal with congress that would help us avoid that fiscal cliff, wasn't enough to keep the fear out of the markets. you can see in the last 38 minutes or so we started to move higher. can't hold it right now, but still up 11 points for the dow. the dow and s&p are both on track to end the week down nearly 2%. the nasdaq on track for its fifth consecutive weekly loss. it will be the longest losing streak since back in june of 2011. there's good news. as we look at the nasdaq right this, if you own a nasdaq stock,
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called apple, and i know a lot of you do, it is finally rebounding today. we're taking a look at shares. after two days of sharp losses, moving higher by 1 and 3/4%. that doesn't erase the losses we have saw the past couple of days. the stock has struggled. earlier this week sale of the samsung's galaxy trumped the sales. perhaps it was just time to take some money off the table. federal bank regulators delaying the implementation of new global set of rules intended to prevent another financial crisis like that of 08. yes, delaying the implementation of those rules. that gives the banks some breathing room. don't know if you guys any comfort. but right now the banks are up marginally, anywhere from about 1/2% to of course 1 1/4%. we do have some breaking news right now. it appears that general petraeus
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has officially resigned. there were a lot of questions about whether he would but right now we are getting word and we have confirmed general petraeus has indeed resigned. petraeus the cia director. there are all kinds of reports floating around that i'm not going to give you yet because we haven't confirmed them. but again, he has officially resigned. let's get to the friday floor show. back to stocks here. we have traders at the new york stock exchange, cme group and the nymex. teddy, do you have your power back? >> we don't have our power back in the office, but i never lost it where i live because i live in manhattan on the upper east side, and somehow we managed to escape. liz: you never lost anything, teddy. you are right at the top of your game. what is your game right now? what do you expect from the markets at this moment as we have some sort of some -- tough to see what's on the horizon? >> i think it's quite clear. that's the problem liz. i think the scenario and -- two
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days don't make the rest of the year or the next three or four years but nothing has really changed, unfortunately. and just listening to the president's speech today, i mean, you didn't -- it didn't take a rocket scientist to read between the lines and come to the conclusion that absolutely nothing has changed. i mean, i think he probably gave the same speech three years ago. and i mean, here in lies the dilemma. you know, it is kind of chicken and egg problem. i mean are we going to get some kind of compromise and deal with this tax -- this fiscal cliff that we're facing, or are are we going right to the 11th hour and, you know, and nothing more will happen or it will be one of those midnight resolutions, but it is the uncertainty that the market can't stand, liz. and this is what the market is telling us, and, you know, third quarter earnings were pretty anemic. and i mean, the scenario just without the election, it's awful tough to find something good to be excited about. liz: well, yeah, i mean, again, though, larry, i would say that the s&p is still up about 8 or 9
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percent over the past year. so still see a little bit of a gain. but teddy is right, especially -- 52 days until we hit that fiscal cliff. we either go tumbling over. let's get to the trader sentiment. how much are they caring about the real story of stocks and that is earn sngs -- that is earnings? >> that's key, it is earnings and economic data. both of those pieces can give us a little bit of rally into the end of the year. liz: consumer sentiment was one of those pieces of data and it looked pretty good. >> yeah, if you see that continue to happen, we have 7 weeks left in the year. certainly the fiscal cliff will be some head winds fighting on that situation. with that being said, i believe we will get some kind of rally. the only question is do we have another pullback and then rally into the end of the year? that's not going to make the markets look so good or people who have long positions look so good. that's something to think about. liz: some stocks are doing very
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well on good news today. we have the new lows -- again mcdonald's i know it is a widely held stock for a lot of our investors. and the energy picture john finally sort of returning to some muscular activity here with crude oil up over $1. i don't know how much credibility we put into that considering it's been up or down no matter what the day. >> you have seen where it's been down and you turn around ten minutes and it is up a dollar and everybody is looking at each other and saying what is going on here? i mean this is a market really that -- we have no news. so you're trading off of technicals pretty much. i mean right now we're trading above $86. we will probably get up to 87, 87 1/2. it's like all right now it is going to rally and turn around and right back down to 85. there's really no news out there. other than i'm looking at gasoline that's up -- i can't figure out how that's up so much. liz: nearly 4%. rbob up 9 pennies >> that's just people just jumping on the rbob gas wagon. i know where i am.
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i don't have any power. liz: i want to hang out with you guys at the nymex again. i used to come there all the time. can you get a crowd for me? >> we will get some people out here. don't worry about it. liz: great to see you. we appreciate our floor show traders so much. starting today, we will help you get your portfolio into very strong shape at a time when all of us have very little control over what might happen in the macro. jerry webman, right next to me, with oppenheimer funds, the chief economist, and our first personal trainer for your portfolio. he's joining me in a fox business exclusive. 183 billion in assets at oppenheimer. so people listen to what you are saying here. what is your -- you just heard all of our traders. did you agree with what any of them had to say about what is going on? >> those traders are very focused on what is going to happen yet this afternoon overnight and by monday morning. liz: the next few minutes really. >> the people who invest with us are worried about yes the rest of this year but next year and
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the years beyond that. so it is a very different perspective. we should keep them straight. some of the things -- the fiscal cliff i don't have to be the 100th person to tell you, it's a real thing. liz: i've decided no one else is allowed to come on the show and simply say we're concerned about the fiscal cliff. they have to give solutions. >> here's what you do -- the problem is you probably have done too much of this, but you hold some quality and liquidity in your portfolio -- liz: does that mean cash? >> that means cash. it could mean long treasuries. something that will do well if something bad happens. so that you've got money to pump out your basement if it floods like mine did. but here's the thing, most people have already done too much of that because those kind of holdings are insurance policies. they're not investments. so that's one piece of the barbell. then there's the other piece of the barbell. liz: we're going with the barbell approach. >> we're going with the barbell, some emergency money to get you through with whatever craziness what happens with this fiscal
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cliff. liz: you are saying that side of the barbell is already heavy with some people because they are so scared. >> look at what people have done -- >> you look good in that tank top. >> it's made for me. if i had biceps like that, i don't know what would happen. i don't want to know. give me a little more hair too, could you? people put a trillion dollars in bond funds over the last five years and taken half a trillion dollars out of equity funds. one of the things we know that's on the horizon next year the year after five years from now is higher cost of living. 1.7% treasuries, nothing percent in money markets isn't going to keep you up with the rising cost of living. you need it for insurance. but it doesn't give you growth. liz: what's on the other side? because we need the income-producing opportunities too. >> in between, you want to make sure when you talk about income, you're talking about real income. the fed has said we're going to give you negative rates of return on treasuries for a long time.
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you want to look at real rates of return, emerging market bonds, corporate bonds including high yield and bank loans. we will see them in dividend paying stocks. be careful in that sector but they will be that well. liz: everybody is making a big deal --. >> look in the history, focus on stocks that were able to increase their dividends over time, those stocks outperformed even when dividends were taxed at a full income rate. liz: under president clinton and we didn't see the world falling apart. >> and those -- the stocks that had a sufficient cash flow to be increasing their dividends outperformed. liz: you talk about pricing power, picking names that have solid pricing power. tell us how you do that. >> well, you know, again this is a bottoms up approach. i think in general you are looking for three criteria. you're looking for powerful brands because you can't invent
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a brand over night. we're look for technology that other people can't replicate. looking for access to growing not shrinking markets. there are a lot of nuances to those, but those things give a company pricing power. liz: president obama, it's just been announced will be holding a news conference on wednesday. okay, he just had one. he's going to hold another one. we're presuming that means that there will be an update on the situation. let's watch the levels of the market right now. we're up about 7 points. see if the market cares about that announcement at all. we will watch as we get closer. just 50 minutes before the closing bell rings. go on. >> my point is i want people to be positioned so they don't have to worry about what happens next week. we will all pay attention and still be prepared for five years from now. liz: you stay pick stocks that have ideas or technology that cannot be replicated. >> ideas, technology, brands and access to markets that are growing and hard to get into. those are the kinds of stocks you want to look for because they will have pricing power. they can grow their earnings, whatever the politicians do. liz: two days of bad losses, yesterday and the day after, is that the election, or is that
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earnings, what is that? >> you know, we had a 5% trade off after the election four years ago. we're almost as bad the next day and then we were up 90%. >> so you got the water out of your basement? >> yeah, we do have the water out of the basement. liz: jerry is saying not me personally. >> no, me personally -- well, i didn't run the pumps, but yeah, i did -- we did have a few problems here and there. liz: well, listen, all of us, thank you very much. glad it's okay. jerry webman, oppenheimer funds chief economist. we will see you next time. closing bell ringing in 49 minutes. we've lost lsm all of our gains here -- we've lost almost all of our gains here but we have seen that a couple times today. and the president saying americans voted for action, but what is really happening inside
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the beltway? our rich edson is in there. he will let us know what he's hearing. that's next.
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liz: the power mover of the hour, we've got to look at kayak. take a look at the shares of this travel website. they are skyrocketing, nearly 28% at this hour. after news broke that rival site priceline would be purchasing the whole company for 1.8 billion dollars. kayak just had its ipo in july. suddenly they are being bought. and the biggest deal to date for priceline. it hopes to use the acquisition to add customers that it works to increase sales and fend off competition, and we can see the shares of priceline while they are down just a little bit today as far as kayak is concerned, those shares of kayak hitting all-time high today. dow jones industrials still holding on to gains of about 11 points. i'm keeping a a very close eye on this, but all major indices still -- in the green -- still in the green on this down week overall. let's get to sandra smith. she is at the new york stock exchange for nicole petallides. jeff flock is at the cme.
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sandra you get to go first. sandra: if you look at the dow weekly winners, boeing tops the list and also 3m was one of the big winners for the week. hewlett-packard one of the shining technnlogy stocks. travellers and guess what? wal-mart finishing in the top five winners for the dow for the week. this is in a week it announcing opening its doors at 8:00 p.m. on thanksgiving day. wal-mart really setting the bar really high for the competitive shopping season over the holidays. s&p 500 weekly winners, computer science corp. that tops the list. first solar getting a nice bounce on the reelection of president obama and his big push for solar. first solar was one of the worst performers over the last four years. jds uniphase and tesoro and f5, your best performers on the week. let's go to jeff flock and see
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if you can impress us anymore, jeff? jeff: i think there's a lot of reason to be bullish commodities. take a look at the winners today, among them, oil back up than expected consumer sentiment news. gasoline also up. phil flynn says there's problems getting gasoline where it needs to be in the northeast. silver up, our scott shellady is telling us inflation is coming, better buy silver. it's 60 degrees in chicago. it's going to be 70 tomorrow. so less need for natural gas. i'm in the grain room, a couple of grains are the movers to the down side. again probably good news, there's more supply of wheat and beans out there than we thought. the drought not as bad as we thought. and demand not as bad. so those are off as well. that's the latest from chicago. liz: wow, the drought that seems like so long ago since hurricane
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sandy. jeff, thank you. today we did hear from president obama and house speaker john boehner, both stressing the need for washington to please work together to avoid that fiscal cliff. but will they be able to find middle ground? and rich, of course the news in the last 7 minutes, 11 minutes or so was that the president will be speaking once again on wednesday. but what are you hearing? you've got your ear to the ground. what do you hear? rich: that's right, news conference next wednesday. president obama says he is willing to negotiate, willing to speak with republicans. in fact next week, democrats and republicans congressional leaders are working at a time to come here to the white house to meet with the president. but president obama made it clear when it comes to raising taxes on wealthier americans, he says the voters have spoken. >> this was a central question during the election. it was debated over and over again. and on tuesday night, we found that the majority of americans agree with my approach. and that includes democrats, independents, and a lot of republicans across the country.
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rich: the white house and the press secretary later went further and said president obama will veto any bill that extends tax rates for those making more than $250,000 a year. the language that they used was the top 2%, and not protecting the 98% -- this is the way that democrats in the white house have framed this debate. the response from house speaker boehner and mitch mcconnell says they are open to overall tax reform. the speaker says he's open to getting revenue from the tax system. but he says as far as rates are concerned, increase of tax rates, which is the white house wants they are not open to that. they say the election did not create a consensus for that. also a little bit of information as far as who is going to be negotiating this thing. treasury secretary geithner says the white house will be on at least through the inauguration. back to you. liz: rich, any word because you know the republicans did pass on $1 of tax hikes for $10 of spending cuts. would they revisit that? is anybody talking about that? rich: they are not talking
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specific numbers yet. this is so early in the negotiations. house speaker boehner says i don't want to box us in. i don't want to box the white house in. we need to start the talks first. liz: rich edson. 40 minutes before the closing bell rings. president obama says he's serious about tackling the debt problem. he's even reaching out to big bank executives. getting their ideas. charlie gasparino has the exclusive details. talk about working the phones. his are smoking right now.
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it's nice to have the experience and commitment to go along with you. keep dreaming. keep doing. go long. liz: as fox business was first to report this morning, white house aides are telling banking executives that president obama sees fixing the nation's mounting debt as a legacy issue. but how much will he really compromise with congressional republicans to get it done? you've been talking to people. >> yes, talking to --
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liz: don't reveal the sources. >> these are ceos of major financial companies over the last couple of days. liz: he's going to the financial guys. >> it's interesting. here's what happened. obama wins reelection. there's outreach between the white house, between the banks, heads of these banks. i cover the banks. i believe it is probably a wider sort of array of people he's reaching out to. you know, corporate executives. these are aides -- white house aides who are saying simply this, dealing with the deficit and fiscal cliff, he's willing to compromise, they are saying. he views getting the country's debt crisis, you know, dealing with that is a quote unquote legacy issue. now, we should point out there are details. you saw his speech today. i don't know, you can interpret that a lot of different ways. i thought he was being kind of -- liz: here's what he said, the wealthiest must pay more. hold on, i'm not wedded to every
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detail of my previous plan. >> that could be a good start. that is -- now, we reported this first this morning. that is what his aides are telling people. obviously there are details. here's the key thing, i don't care, people can talk about what this -- i mean there's two issues here. there's the fiscal cliff issue that has to be dealt with, that means automatic tax increases, spending cuts, immediately the first of the year if they don't do something. then there's the bigger issue of how do you get your hands around the debt and do you do it through reforming the tax code which is insane by bringing down marginal rates plugging all the loopholes, that's what simpson bowles is all about, their tax plan, that was from the president's bipartisan deficit committee. that's what they are talking about. how they do this is really -- there are the details. i will tell you this, liz, i've been telling people all day, these are what the wall street guys are telling me, ceos are telling me, look who he appoints
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as treasury secretary. geithner works till the end of the year. if erskine bowles gets it, this will be a compromise, this will done through tax reform. i think bowles -- i don't think he will take that job unless the president endorses simpson bowles. as you moe know -- as you know simpson bowles. if we goes with jack lou, the current white house chief of staff, erskine bowles is a businessman. if he goes with jack lew, much more partisan. that mean it will be a hard-line on taxes. someone who makes $250,000 a year, and you have five kids, you live in long island, guess what you are a millionaire and billionaire. that's what he's saying because you are going to pay the same tax rates -- excuse me, same income tax rates as someone like warren buffett. that's the hard-line. we will see. i will say this, one thing about
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president obama. listen i report the news. i came out here on your shows last week, i told you he was going to win. liz: yeah. >> i cover this like baseball. personally i will tell you that people who know president obama will tell you he was the least economically interested president that they have seen in a long time, when he had those -- he had that growth commission, jeff immelt, the ge ceo headed, those meetings weren't exactly like, you know, great. liz: that's what i'm hearing. >> he read off the telepromptee -- no offense by the way. liz: i'm offended. [laughter] >> anyway -- who knows. liz: charlie, thank you. >> he may have seen the light, legacy issues, let's deal with it. liz: charlie thank you very much. it's been a huge week on countdown to the closing bell.
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here are are just a few of the movers and shakers who joined us. take a look. >> we keep millions and millions of gallons in storage, in either pipelines or terminals around the country. and that enables us when a hurricane or a storm or some type of extraordinary event comes up, to be able to keep end product in this case the big push was on gasoline because of the proximity to new york city. >> make sure you're protected against the unexpected problem, and that means some bonds to go along with your stocks, and that in turn points out that in these last 12 years, the average balance fund, bond stocks, say 60% stocks, 40% bonds has generated a return of give or take around 6% a year. that's not bad for 12 years. that doubles your money. >> everyone loves to say our interest rates are really low. and they love to say how much lower can they go. you know what the answer is? lower. and you say that can't be.
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u.s. treasuries as scary as this is are still a great bet because they are the place to hide. >> today we have a very sustainable recovery in automotives, driven by genuine replacement need, great new product and terrific financing, and the industry is profitable at the retail, the buyer and manufacturer levels. it is a bright spot in the u.s. economy. >> you look at our guidance on device shipments, we actually took our numbers down in developed markets and up in emerging markets so it's a lot of strength in the emerging markets, and i think that's going to continue to go forward. liz: business leaders, that's what you get on this show. they speak to fox business. they tell you the real story of what is going on out there. closing bell ringing in 29 minutes. s&p is still up by more than 4 points. we have a little breathing room here. the verdict is jackpot. one of the tv judges is about to be featured on a brand new slot
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machine. that's right. instead of having out verdicts, they could be handing you some big winnings. up next, a fox business exclusive. the ceo of igt -- this is one of the biggest manufacturers of gaming machines. the ceo telling us which judge gets the nod to be the superstar of these gaming machines, plus she will reveal the country legend that's also getting in on the game. we've got a little hint for you as we go into the break. listen up.
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>> i'm robert gray with your fox business brief. breaking story at this hour, david petraeus is leaving his post as director of the central
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intelligence agency. petraeus sent word of his resignation and a message in agency employees today. says he's stepping down for personal reasons. sources say petraeus's deputy will serve as acting director. he took over as cia director in april of 2011. meanwhile white house press secretary carney said in the last hour that timothy geithner will remain treasury secretary through the inauguration. carney says geithner will be a key part to resolving the fiscal cliff issue. and iraqi officials expect exxonmobile to complete the sale of its shares in the west oil field by year's end. according to iraq's deputy prime minister for energy, exxon officials have started talks with some major oil companies offering them its complete stake in that project. and now we continue our countdown to the closing bell with liz claman. liz: so we got the new data out
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today that shows you're ready to spend. consumer sentiment hit its highest level since the year 2007. here's the chart. we wanted you to see this what kind of a choppy road it's been. it rose to just at about 85% in november. so are shoppers ready to splurge and maybe it's on sports? joining me now, robert parrish, sporting goods ceo, live from the floor of the new york stock exchange. it is great to see you robert. are you seeing in your sales any reflection from what we got in say for example the consumer sentiment data today, some positivity about opening the wallet? >> first of all, thank you, we're very privileged and honor to be here. our 125th year. we've seen some very positive signs, not just this year, but last year as well. and so far things i would say would be very stable for our business, and the november and december will be big indicators for us is when we do our
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initials. liz: that's what you are looking at even though it is not necessarily baseball season, you guys are huge in baseball. i love the smell of brand new baseball mitts. yeah, liz, okay. you guys are the name in baseball for a lot of people. tell me, how is that industry doing? which parts are you seeing in sports that are looking very strong? >> i will tell you, you know, our core product lines have been very strong. we are the market leaders in fielders gloves and baseballs and also batting helmets. all those sectors have been strong. where we're really seeing the strong rebound in the economy back from 09 is really in the performance segments of the business. the market itself in team sports is stable really across all the categories. what we are seeing is the sports enthusiasts in each of these sports have come and committed deeper to the sports. we are seeing our higher performance products doing well. liz: japan is the world's second
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largest baseball market, that's going to be big. i guess i'm a litted bit more interested -- i'm a little bit interested in what you are going to do in china for rawling. >> we're looking at japan as a region of growth opportunity for our business. in fact, we would be ending a 35 year relationship with asix corporation beginning in 2013. in the last 2 1/2 years of building out our japanese interest will. we have now 19 employees that we have in place. built our entire product line from scratch. we're ready to launch it. in fact we launched our first product november 1st for the japanese market. as we re-establish ourselves firmly in japan, we will lose that regional hub to grow not only into china but also into australia and taiwan and korea. liz: congratulations on 125 years and you've been there for 28 of those years. so really that's a wonderful
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accomplishment. thank you robert. >> you're welcome. our pleasure. liz: any time. it's of course a division of jarden, that stock is up 59% over the past year. it's done exthe record -- extraordinarily well. today we're happy to tip the helmet to rawlings today. congratulations to robert parish and the team. igt, let's get to that company. they hit the jackpot with their earnings this quarter citing a big boost in social gaming. the gaming machine manufacturer is betting very big on a new group of teemed games -- themed games expected to come out in 2013. let's bring in the ceo of international game technology joining us from where else las vegas, patti, good to see you, thank you for being here. >> thanks so much for having me, liz. liz: 17% growth in revenue were your latest numbers. people are gambling that much
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more? to what do you attribute this jump? >> yeah, i mean, we posted a very, very strong fourth quarter yesterday. with 17% growth as you indicated in revenue. our top line. but also for the year 10% growth. it is not a one quarter anomaly for us at igt. it's really about in the gaming industry it's about good product. we're a product company at igt, and so our products really are the differentiation between success and failure, and so we really have a good strong line up of products, and it's showing in the top line. liz: let's talk about some of those products and i find it so funny. we were talking about some of your newest games that will come in 2013. we had before the commercial break a little guess for people what judge was going to be the star, was it judge milian, judge joe brown, judge judy, you get to break the news, who will be the star of one of these games and why a judge? >> yes, judge judy is our winner. you know, it really is based on
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the demographics. she has an amazing following, and it fits nicely with the demographic of our audience as well. and she's really had really good early returns. liz: i guess i want to know how would that manifest itself in a slot machine? does she yell at you? >> we actually use actual clips from her show, so it's really very engaging game and a lot of fun. liz: we have got dolly parton too. we quizzed people on that one. dolly parton will be behind one of these games, csi, is that the new trend of adding an echelon of entertainment to a simple pulling of the machine handle? >> yes, hollywood has definitely collided with the gaming industry. as you know, as well as everyone knows, people look for brands that they're familiar with and that they recognize. and putting those brands on a gaming experience makes it more compelling and interesting for the players. so you see csi, launching --.
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brands definitely growing in the gaming industry right now. liz: i love dolly parton. in june you were awarded on-line gaming license in the state of nevada. on-line gaming is still illegal in 44 states except for delaware and nevada. to participate right, you have to prove residency in one of those two states. how wiil this add to your bottom line? >> yeah, well on-line gaming real money wagering basis is a very limited market still in the united states. and it is a poker only market. and our real core competency as a company is in the social immediate qa air -- media area with our social casino so it's about repurposing our content into the social environment, and adding not only to our bottom line but our top line, and repurposing assets that we have invested in over the years and
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so our real position today in the on-line gaming space is in the social casino space, leveraging our assets and game library. very successful for us. as you see the world's largest social casino owned by igt contributed nicely to the earnings yesterday. liz: a lot of analysts feel that was a good acquisition. patti, great to see you. thank you very much. >> thank you very much. liz: i want to see judge judy game too. patti hart is igt ceo. the stock is down about 20% year over year, but the p-e is still pretty cheap at 11. closing bell ringing in 15 minutes. after the break, we will head down to the new york stock exchange where sandra smith is wrapping up the week. she's standing by right now. she's talking to the traders to mail down, listen to this, three -- to nail down, listen to this, three of the most important things that you need to watch next week.
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liz: got a little bit more distance between the flat line and where we are at the moment. you can see on the screen the nasdaq up 15. the dow up 28. at one point we were down 68. but at another point, we were up 78. so not quite there on either level. check out shares of lions gate roaring higher today after its strong second quarter earnings reported yesterday after the bell. that's the independent film studio run from santa monica california cited significant contributions from the dvd release of the hunger games, during the period. the hunger games.
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with today's gains, shares of the company, nice return here, up more than 100%. 100%. she gives it every single day, sandra smith, she's checking the pulse of the traders after a pretty rocky week for the market. sandra: what's not giving 100% is these markets lately. they have been down a lot this week. almost every headline bobby says it's the fiscal cliff. do you believe that to be the case? >> i believe it is the case. i think people have been gearing up for some time now since last time we had the debt ceiling debate, i think maybe republicans back then were looking for a chance to wait till obama was out of office to deal from a stronger hand. i'm not so sure they have the stronger hand right now. sandra: obviously volatility at play with a huge sell-off this week. we're coming back a little bit ahead of the weekend. we're watching the vix. still at historically low levels showing there might still be
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complacency in this market. >> we have been lower levels in the summer. in the last four or five weeks we have noticed increase in volume, options, people were gearing up for a big sell-off. they didn't get as big a sell-off as they were looking for. they didn't get an extra big pop in volatility either. didn't so well on those trades. -- didn't do so well on those trades. sandra: there's a lot of economic data on the calendar next week. >> middle of the week, producer price index coming out, retail sales that will be important. we have heard some retailers warning about things -- sandra: kohl's this week, saying it's going to be promotional the retail sales. >> last few days of the month, a big storm hit up here. i don't know maybe home depot and lowe's can make up for it -- make up for it. jobless claims at the end of the week, that's always important.
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we will see how it goes. sandra: how do we finish up today and what happens next week? >> well i thought they would be a little more bounce today. liz likes to say the dead cat bounce. we haven't really seen it. next week i think we will start off about the same. a little choppy here but i don't see any real big moves after these last two days. sandra: liz, 7 minutes left in trading, i will hand it back to you. liz: tell bobby it's dead mouse bounce. [laughter] liz: thanks bobby have a good weekend. thanks sandra very much. we're just 7 minutes from the closing bell. okay? listen, it's been a rough week. we are so glad you have hung with us all week long. you can follow me on twitter @ liz claman. see my travails over the past two weeks. next k you guess this stock -- can you guess this stock in the company cannot catch a break. -- can you guess this stock? the company cannot catch a break. today the stock is plunging again.
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i will tell you which stock, that's next. [ male announcer ] this is steve.
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he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping to the marke he goes with people he trusts, whicis why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing
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and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >> before the break we showed you a chart, it is not a pretty one. it is groupon. it is falling another 30% today. the intraday chart, if you stretch it out, you can see since it went public, listen, the ipo price was $20 a share. annual high, well the high of the session, $26. look at groupon today, $2.73. they missed their own revenue forecast yesterday when they came out with numbers. they did cite slower growth and lower margins for of course the social media coupon site and they said that slowing coupon growth in europe was at the heart at least in part of what was going on with their numbers this time around. what's at the heart of what's
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going to happen after the bell? here we go. we're just 2 1/2 minutes away from that. david just dragged himself on to the set. david: isn't that the longest two weeks of our lives? i mean first the storm and then the election. i just ate at a groupon place. it was terrific. they still give great coupons. liz: let's go to sandra at the new york stock exchange floor. one of the names and a lot of our viewers know this, it's disney. stock shaving 22 points off the dow. sandra: they really ignored all the good news in its earnings report. the theme park business was strong, media networks was strong, cruise line was strong but revenues missed estimates. ran from the stock today, down 6%. also by the way it got a downgrade so that weighed on shares as well. david: we have to talk about apple, the biggest weekly drop in six months for apple. even with today, it's down like 5%. it's trying to claw back. it was up about 9 bucks today. but again, not enough to wipe
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out the losses earlier. sandra: right. i's still up about -- it's still up about 35% so far this year, but it has taken a huge beating, now right around $55 a share. -- $550 a share. some analysts are starting to say the stock looks cheap. p-e ratio just 12. oppenheimer urging its clients to buy this stock today. they say the sell-off is overdone. liz: we had another stock that definitely found its footing. that was zip car up more than 18% today what do you think about that? sandra: amazing what a better than expected earnings report will do for a company that really has not been impressing the street. stock up 16%. zip car topped estimates and this stock was off to the races. david: talk about the stock jc penney, they tried, but got slammed today. sandra: ron johnson the ceo of jc penney's says he's still committed to the turnaro
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